You’ll have to define the project as a mobile project. You can define this as follows:

type='mobile'

For other general AIR setup instructions, check out the AIR documentation page: AIR

The mobile properties have conventions for Android, so if you’re building for this platform, you’re all set (unless you want to tune them a bit).
For iOS you’ll have to override some convention properties.
Check out the platform specific sections for more information.

To specify how you want to package for Android, you can define the target property for installing to a device, or simulatorTarget for installing to a simulator.
This property defaults to apk for the target property and to apk-simulator for the simulatorTarget property.

These are all the targets you can use for Android:

apk - an Android package. A package produced with this target can only be installed on an Android device, not an emulator. |

apk-captive-runtime - an Android package that includes both the application and a captive version of the AIR runtime. A package produced with this target can only be installed on an Android device, not an emulator. |

apk-debug - an Android package with extra debugging information. (The SWF files in the application must also be compiled with debugging support.) |

apk-emulator - an Android package for use on an emulator without debugging support. (Use the apk-debug target to permit debugging on both emulators and devices.) |

To specify how you want to package for iOS, you can define the target property for installing to a device, or simulatorTarget for installing to a simulator.
For iOS the target property is required, since it defaults to an Android value. The same is true for the simulatorTarget property in case you want to use a simulator.

These are all the targets you can use for iOS:

ipa-ad-hoc - an iOS package for ad hoc distribution. |

ipa-app-store - an iOS package for Apple App store distribution. |

ipa-debug - an iOS package with extra debugging information. (The SWF files in the application must also be compiled with debugging support.) |

ipa-debug-interpreter - functionally equivalent to a debug package, but compiles more quickly. However, the ActionScript bytecode is interpreted and not translated to machine code. As a result, code execution is slower in an interpreter package. |

ipa-debug-interpreter-simulator - functionally equivalent to ipa-debug-interpreter, but packaged for the iOS simulator. Macintosh-only. If you use this option, you must also include the -platformsdk option, specifying the path to the iOS Simulator SDK. |

ipa-test-interpreter - functionally equivalent to a test package, but compiles more quickly. However, the ActionScript bytecode is interpreted and not translated to machine code. As a result, code execution is slower in an interpreter package. |

ipa-test-interpreter-simulator - functionally equivalent to ipa-test-interpreter, but packaged for the iOS simulator. Macintosh-only. If you use this option, you must also include the -platformsdk option, specifying the path to the iOS Simulator SDK.